jobs, jobs, jobs

jmc wrote: It is all about demand, 70% of the U.S. economy is consumer driven, People are saving , the debt bubble burst, Home values have sunk. It will take a while to recover. Gov and business can only react. This will take a few years regardless of gov. policies. We need to dig out of a big hole. WE created this we are paying the price. Just a dose of reality.

Exactly, call this Hangover Part III. The US has been on a bender for the past 10 years and now our pockets are empty, our heads are pounding, and the guys throwing the party, are too embarrased to give us the final check.

Cutting the deficit does NOT create jobs... In fact, it will kill them... No matter how much Kool-Aid you drink that won't change.

jmc wrote: WE created this we are paying the price. Just a dose of reality.

I sorta have to take issue with the WE. There are plenty of people who live within their means and stay clear of debt and didn't use their home equity as an ATM machine, used down payments and normal fixed rate mortgages, etc. Housing prices got way out of control in certain areas, not everywhere.

I clearly remember watching those "Countrywide" loan commercials before 2007 and shook my head in disbelief. I was also working in San Diego in 2006 and decided no way would I buy into that, even though I loved living there.

Sure the mortgage industry was full of scam-artists, but not everyone fell for it. I don't like over use of the word WE. Sorry.

Joe wrote: I know you lefties are going to hate this, but here is the pain that is necessary to get jobs created and unemployment down.

1. Immediate end to extended unemployment benefits > 6 months. Temporary welfare support for families only.
2. Immediate end to housing support. End Fannie/Freddie and get back to normal mortgages 10-20% down, market rates, excellent credit only. (Like Germany does)

Yes house prices will dive. The correct market price will be found and then buyers will step in. People underwater will finally all do the smart thing and walk away, free to move to another state and get a job. They will be better off than trying to save their permanently underwater mortgage. Rent for awhile. Move in with friends or family.

Its either that or stay the present course and go bankrupt as a country with anemic growth and massive deficits. We need a booming economy to get out of this hole.

Oh, and there are smaller things that could be done with job re-training and tax credits for small business, deregulation, etc. But the top 2 are the biggies.

I hear what you are saying, but the fall is too fast and everything crumbles in on itself -an implosion if you will. I don't think you can just pull the rug out from under everything and think the "water will find its level".

and we are not going bankrupt. We are still the wealthiest nation out there and surviving the world-wide "recession/depression" better than most.

Lack of regulation is a big part of what lead us to the cliff's edge - with mortgage and finance "private sector" running amok. There is a middle ground where regulation must be a part of it. With the pressure on companies to beat the analysts predictions, the bean counters are only focused on bottom line and not doing what is right.

In Bob Lutz's new book, he talks about what really took down the American car companies - bean-counters in charge instead of the product developers and innovators.

http://www.amazon.com/Car-Guys-vs-Bean- ... 1591844002

Joe wrote:

jmc wrote: WE created this we are paying the price. Just a dose of reality.

I sorta have to take issue with the WE. There are plenty of people who live within their means and stay clear of debt and didn't use their home equity as an ATM machine, used down payments and normal fixed rate mortgages, etc. Housing prices got way out of control in certain areas, not everywhere.

I clearly remember watching those "Countrywide" loan commercials before 2007 and shook my head in disbelief. I was also working in San Diego in 2006 and decided no way would I buy into that, even though I loved living there.

Sure the mortgage industry was full of scam-artists, but not everyone fell for it. I don't like over use of the word WE. Sorry.

I agree, Joe. "We" (hubby and me) didn't cause it or fall for it. As a matter of fact, during all of this, we have been paying down the mortgage (we took out a 15 year fixed at the end of 2003) and we will have it paid off this year (8 years!) and no debt. My 401(k) took a dump in 2008/2009, but has bounced back. We are feeling very fortunate. of course we drive old cars (1987, 1989, and 1995) so insurance is low and no monthly car payment and we don't buy something unless we can pay for it right then.

I would NOT want to be a twenty something starting out now... education costs are too high, they start life DEEP in debt with school loans and it seems impossible for them to ever dig out.

Joe wrote:

jmc wrote: WE created this we are paying the price. Just a dose of reality.

I sorta have to take issue with the WE. There are plenty of people who live within their means and stay clear of debt and didn't use their home equity as an ATM machine, used down payments and normal fixed rate mortgages, etc. Housing prices got way out of control in certain areas, not everywhere.

I clearly remember watching those "Countrywide" loan commercials before 2007 and shook my head in disbelief. I was also working in San Diego in 2006 and decided no way would I buy into that, even though I loved living there.

Sure the mortgage industry was full of scam-artists, but not everyone fell for it. I don't like over use of the word WE. Sorry.

"We" was meant as the "Royal we" not individual.

and I think it was lack of regulation that allowed the scam artists to get away with it... for a while

Yeah that stimulus sure worked well. 1.9 Million Fewer Americans Have Jobs Today Than When Obama Signed Stimulus. Hand someone trillions of dollars and even a monkey could have created jobs! Guess Obama isn't that smart. Tax and spend must be the answer! :bash

http://cnsnews.com/news/article/after-2 ... ing-19-mil

The present economy is like a man who's job is cut back to part-time whenever he cannot even afford to pay his current bills. So his answer to his dilemna is to go out and get a huge loan. Whenever he finds that after spending the money from that loan his job has not been restored to full-time, his answer is to go out and get an even larger loan. This is liberal thinking.

major bean wrote: The present economy is like a man who's job is cut back to part-time whenever he cannot even afford to pay his current bills. So his answer to his dilemna is to go out and get a huge loan. Whenever he finds that after spending the money from that loan his job has not been restored to full-time, his answer is to go out and get an even larger loan. This is liberal thinking.

Isn't using (liberal thinking) in a sentence an oxymoron?